The Polypectomy Snare Market is expected to grow at a 6.0 % CAGR during the forecast period for 2023-2031.
The Polypectomy Snare is a medical instrument used in clinical polypectomy operations. Polypectomy is a process of removing polyps which is usually carried out in the healthcare facility. The polyps develop in the tissue and spread into the hollow space. Also, there are other traditional ways to remove polyps such as cold forceps polypectomy and hot forceps polypectomy. In the cold forceps polypectomy, cold forceps are used to remove the polyps that stretch out of the tissue. In the hot forceps, polypectomy is similar to cold forceps polypectomy but applies diathermy to ablate residual polyp tissue through the forceps. However, with the rising technological differences, the adoption of polypectomy snares has increased. The increasing number of colon and uterine polypectomies and rising demand for CRC screening are the major factors driving the market growth. CRC screening is used to identify and remove polyps. Currently, colon and endometrial polyps are common health issues and are proliferating.
Moreover, a rising preference for minimally invasive surgeries is also anticipated to boost the demand for polypectomy snares across the globe. The polypectomy snare is a wire loop mainly designed to remove the polyp by slipping over it. Additionally, growing strategic mergers and acquisitions among the key players operating in the market, rising health care expenditure is likely to propel the market growth in the near future.
Market Segmentation
The Polypectomy Snare Market is a segment based on product, type, end-user, and geography. In terms of product type, the global market is segregated into single-use polypectomy snares and reusable polypectomy snares. In 2019, the single-use polypectomy segment is estimated to account for the significant share of the global polypectomy snares market. The demand for polypectomy snares is shifting towards single-use polypectomy from reusable. Several healthcare facilities are using single-use polypectomy snares because this type of snares is more convenient and minimize the risk of biological cross-contamination. However, the medical sector in Europe uses reusable devices to reduce the healthcare costs. Therefore, these factors are expected to overall market growth of the polypectomy snares. Segment Type comprises Single Loop Polypectomy Snare, Multiple Loop Polypectomy Snare, Braided Polypectomy Snare & Crescent Polypectomy Snare.
Based on the end-user, the market is segmented into hospitals, ambulatory surgical centers, and specialty clinics. In 2019, the hospital's segment is estimated to account for the largest share in the global market. A large number of polypectomy procedures is carried out in hospitals which are further projected to propel the growth of the segment in the global market. The surging colon and uterine polypectomy procedures is likely to increase the application of polypectomy snares in hospitals. Moreover, the ambulatory surgical center is anticipated to grow significantly in the forecast period. The large units of polypectomy snares are sold to ASCs.
Geographically, the Global Polypectomy Snare Market has been segmented into North America, Asia Pacific, Latin America, Europe, and Middle East & Africa. In terms of revenue, North America is anticipated to account for the largest share in the global polypectomy snare market in 2019. The rising preference for minimally invasive surgeries and a large number of surgeries carried out in the U.S. is projected to boost the market growth significantly within the region. Moreover, in the U.S., the favorable reimbursement scenario is also estimated to increase the demand for healthcare devices, thereby propelling the adoption of polypectomy snare. Additionally, the presence of well-established manufacturers and quality healthcare facilities are expected to upsurge the demand for the polypectomy snare market in North America.
Competitive Landscape
Some of The Key Players in The Polypectomy Snare Market:
- Aohua Endoscopy
- Blue Endo
- Carmonja
- EMED
- Endo-Flex
- ENDO-TECHNIK W. Griesat
- Endo-Therapeutics
- EndoChoice
- EndoMed Systems
- Healthcare Medical Changzhou
- Jiangsu Kangjin Medical Instruments
- Medi-Globe
- Other Prominent Players
The Polypectomy Snare Market Report Scope
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Report Attribute |
Specifications |
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Growth Rate CAGR |
CAGR of 6.0 % from 2023 to 2031 |
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Quantitative Units |
Representation of revenue in US$ Million, Volume (Unit), and CAGR from 2023 to 2031 |
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Historic Year |
2019 to 2022 |
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Forecast Year |
2023-2031 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
By Product, By Type, By End-Users |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
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Competitive Landscape |
Medi-Globe, Aohua Endoscopy, Mednova Medical Technology, EMED, U.S. Endoscopy (Steris PLC), Boston Scientific Corporation, EndoMed Systems, Pauldrach Medical, Blue Endo, Carmonja, Endo-Flex, ENDO-TECHNIK W. Great, Endo-Therapeutics, Jiangsu Kangjin Medical Instruments, Healthcare Medical Changzhou, EndoChoice, Ovesco Endoscopy, and Sejong Medical among others |
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Customization Scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing and Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
